Finland ranked fifth in an international pension comparison

1 Nov 2017 16:15

​The Finnish retirement income system ranked fifth in an international pension scheme comparison. Finland's ranking fell by one place from last year. The Danish retirement income system was ranked the best in the world for the sixth consecutive year.

​Finland came first in the integrity and transparency sub-indexes for the fourth time in a row. Finland’s overall score was brought down by the Finnish economy in general, rising public debt and mild interest in retirement saving.

“Finland's score is hard to improve. With the state in debt, it is difficult to significantly improve minimum pensions. It is also unrealistic to increase funding in a situation where we want to keep pension contributions stable”, says Mikko Kautto, director of the Finnish Centre for Pensions.

Finland's ranking fell by one place when Norway, a newcomer in the comparison, cut in to the fourth place. The Melbourne Mercer Global Pension Index is an annual comparison of national pension schemes and was conducted for the ninth time this year. The comparison included 30 countries.